Apple’s stock market value has slipped below US$2 trillion for the first time since June 2021.
This comes a year after becoming the world’s first company to reach the US$3 trillion mark, a brief peak before a horror twelve month stretch in the tech sector.
Apple’s shares fell 4 per cent to US$124.60 (A$185.17) after iPhone shipment targets for the current financial year were cut to 224 million units, from 245 million units.
This 4 per cent drop finds the company valued at US$1.98 trillion. Apple fell 27 per cent in value in 2022.
Adding to these woes is the company’s looming December quarter financials, which Wall Street analysts expect to show a 1 per cent drop in revenue for the quarter, the first quarterly fall since March 2019.
